523940 — Portfolio Management and Investment Advice
Description
This industry comprises establishments primarily engaged in managing the portfolio assets (i.e., funds) of others on a fee or commission basis and/or providing customized investment advice to clients on a fee basis. Establishments providing portfolio management have the authority to make investment decisions, and they derive fees based on the size and/or overall performance of the portfolio. Establishments providing investment advice provide financial planning advice and investment counseling to meet the goals and needs of specific clients, but do not have the authority to execute trades.
Illustrative Examples
- Financial planning services, customized, fees paid by client
- Investment advisory services, customized, fees paid by client
- Managing trusts
- Portfolio fund managing
Overview Facts
| NAICS Code | 523940 |
|---|---|
| Industry Title | Portfolio Management and Investment Advice |
| SBA Size Standard | $47,000,000 |
| IRS PBA Code | 523900 (rolled-up match) |
| Sectors Hierarchy | Sector 52 → 523 → 5239 |
| Source / Verified | US Census 2022 NAICS Manual / 2026-06-28 |
Legacy SIC Concordance
Trace the historical mapping chain from the 1987 Standard Industrial Classification (SIC) to the modern 2022 NAICS code format.
- SIC 6282 - Investment Advice (via SIC1987:6282→NAICS1997:52392→2002:523920→2007:523920→2012:523920→2017:523920→2022:523940)
- SIC 6371 - Pension, Health, and Welfare Funds (via SIC1987:6371→NAICS1997:52392→2002:523920→2007:523920→2012:523920→2017:523920→2022:523940)
- SIC 6733 - Trusts, Except Educational, Religious, and Charitable (via SIC1987:6733→NAICS1997:52392→2002:523920→2007:523920→2012:523920→2017:523920→2022:523940)
- SIC 6799 - Investors, NEC (via SIC1987:6799→NAICS1997:52392→2002:523920→2007:523920→2012:523920→2017:523920→2022:523940)
Related Resources & Compliance Guides
Further regulatory reference links for NAICS code 523940:
- Sector 52 Directory Hub — List of related industries in the Finance and Insurance sector.
- SIC ↔ NAICS Crosswalk Tool — Look up mappings between legacy SIC codes and modern classifications.
- SBA Size Standards Guide — Complete rules and averaging periods for small business classifications.
- Calculating Annual Receipts Guide — Detailed worked example of revenue calculation rules.
- IRS Principal Business Activity Guide — How NAICS codes map to corporate and entity tax filings.
Related Industries in 5239
Frequently Asked Questions (FAQ)
Is 523940 a valid 2022 NAICS code?
NAICS 523940 is 'Portfolio Management and Investment Advice', a 2022 U.S. national industry under Sector 52 (Finance and Insurance); the SBA small-business size standard is $47,000,000.
What is the SBA size standard for NAICS 523940?
The SBA small business size standard for NAICS 523940 is $47,000,000 (based on receipts).
What is the legacy SIC code mapping for 523940?
NAICS code 523940 maps to the legacy 1987 SIC codes: 6282 - Investment Advice, 6371 - Pension, Health, and Welfare Funds, 6733 - Trusts, Except Educational, Religious, and Charitable, 6799 - Investors, NEC.